Image courtesy of Pillar Properties

A long-underutilized block in downtown Bridgeport is getting a new life with a housing-heavy, mixed-use redevelopment plan.

Mayor Joe Ganim’s office announced Thursday that developer Great Neck, New York property manager and developer Kuimarz Geula plans to rehab the former AT&T telephone exchange at 430 John St. and build 137 units of housing on the neighboring parking lots at 455 Fairfield Ave.

The city is contributing funding to make half of the new homes affordable housing, Ganim’s office said.

The two-building development will include the city’s first rooftop restaurant, along with an art gallery.

Rehabilitation of the AT&T building for an unspecified set of mixed uses will begin this spring, with the apartments slated to get underway six months later.

“I would like to thank Kuimarz Geula and the rest of Pillar Properties for this investment and interest in Bridgeport. While housing costs in the area are at historic levels, these properties will offer affordable housing options in this challenging market,” Ganim said in a statement. “This project is consistent with my administration’s goals of aggressively developing properties, especially in the downtown, and addressing the housing shortage. We are also excited about the opportunity for new, fun dining option that this project will bring to downtown Bridgeport.”